CINCINNATI--(BUSINESS WIRE)--As a leader in commercial payments, Fifth Third Bank (NASDAQ: FITB) has
launched Fifth Third ePay, an upgraded electronic accounts payable (EAP)
solution for commercial
card clients using virtual card numbers for payment. Fifth Third
ePay enables clients to take advantage of electronic accounts payables
and meets evolving client needs. Fifth Third ePay provides clients with
multiple options for supplier payments, visibility into account and
payment status, and program controls for fraud and risk mitigation.

“Last year Fifth Third’s commercial card clients used our electronic
accounts payable solution for nearly 25% of payments to their vendors
and partners,” Bridgit Chayt, director of wholesale payments. “The new
platform makes the solution more convenient and secure for our business
clients.”

While other banks offer an EAP solution, Fifth Third ePay offers a
robust and complete management platform. The updated tool and interface
provides several benefits to commercial clients including:

Increased Risk Management & Fraud Control – Clients can
better control their program, assigning access to data and payment
activities as needed. The use of Virtual Card Numbers also enables
clients to keep funding account confidential.

Increased Electronic Payment Usage – Clients can transition
more payments to an electronic format, as suppliers will have the
ability to receive payments in multiple methods, whether by a one-time
virtual card number or one that they can reuse multiple times.

Quicker Navigation – The redesigned user-friendly interface is
a single location that allows administrators to quickly manage their
program as needed.

According to the RPMG
Research Corporation 2015 Electronic Accounts Payable Survey, EAP
spending grew by 33% between 2014 and 2015, with 72% of respondents
expecting EAP spend to increase over the next five years.

Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $144 billion in
assets and operates 1,191 full-service Banking Centers, including 94
Bank Mart® locations, most open seven days a week, inside select grocery
stores and 2,541 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois,
Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth
Third operates four main businesses: Commercial Banking, Branch Banking,
Consumer Lending, and Wealth and Asset Management. Fifth Third also has
an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the
largest money managers in the Midwest and, as of June 30, 2016, had $305
billion in assets under care, of which it managed $26 billion for
individuals, corporations and not-for-profit organizations. Investor
information and press
releases can be viewed at www.53.com.
Fifth Third’s common stock is traded on the Nasdaq® Global Select Market
under the symbol “FITB.” Fifth Third Bank was established in 1858.
Member FDIC, Equal Housing Lender.